Finacle Accounts Overview

Finacle Awareness Training Overview:

Accounts are broadly classified into Customer accounts and Office account.

Customer accounts are opened by the customer under various banks products like Savings/Current/Term Deposit/Advances accounts
Office accounts are opened by the bank for its internal consolidation and reporting like Demand Draft Account, Suspense Accounts, ARBH, HO Account, Establishment Expenses Based on the behaviour viz Savings, Current, Overdraft, Loan, Office Account, etc have a specific feature of their own are referred to in Finacle as Scheme Type. In Finacle Ver 7.011 Scheme types are hard coded and details are as follows Scheme types for customer account are as follows - SBA / CCA / CAA / ODA / TDA / BIA / FBA / LAA / PCA Scheme types for Office account are as follows OAB / OAP / HOC / DDA /

Finacle Awareness Training Office Accounts Overview:

Taking into account the above objectives/functionality, the office accounts have been grouped into the following Scheme Types . Office Account Basic - OAB Office Account Pointing - OAP Head Office Accounts - HOC Demand Draft Accounts - DDA Office System Pointing OSP Office Accounts are hence opened depending on the type, nature and functionality required, under one of the following Scheme Types - OAB / OAP / HOC / DDA / OSP.

Finacle Awareness Training Office Accounts Overview:

Office Account Basic : Accounts like Cash, Asset accounts, Liability Accounts, Interest, Commission, Exchange, Discount, Charges are opened under this Scheme Type. Office Account Pointing : This Scheme Type is used for opening Sundry and Suspense Accounts. Office System Pointing : This Scheme Type is used for opening only Proxy Accounts, where the system not expected to do any parameter validations. Head Office Accounts : HO Accounts are used for accounting InterBank, Inter Branch and Clearing Transactions. (Eg: MT, TT) Demand Draft Accounts : Under DDA Scheme Type, account used for handling issue and payment of Demand drafts, Pay order are opened.

Finacle Awareness Training Office Accounts Overview:

Pointing Account There are some situations wherein certain transactions which when done on any given BOD date may need a reference/pointer to a transaction which have taken place on some previous day. Such type of transactions can be handled in Finacle using the Pointing type of accounts opened under OAP scheme type.

Finacle Awareness Training Office Accounts Overview:

Proxy Account During the course of a day, various transactions are created by several users of the bank. However, at the close of the business day, there could be instances, where a transaction entered may remain unposted or partly posted. When End-of-Day process is initiated, system validates for such unposted or part posted transactions. If any unposted or part posted transactions exists, then the End-of-Day process will get aborted. As End-of-Day process is normally done by a Data Base Administrator(DBA), who is not involved in the day-to-day branch operations, it is difficult for the DBA to identify the reason behind the unposted or part posted status of a transaction. Under such circumstances, in case the DBA can not postpone the End-of-Day process. In order to overcome such a situation and to enable the Data Base Administrator to proceed with End-o f-Day process, Proxy Accounts concepts is enabled in Finacle.

Finacle Awareness Training Overview:

Partitioned Account In banking operations, Office accounts are used to maintain information on income and expenditure accounts as well as certain specific types of transactions pertaining to customer accounts also. For transactions posted to such accounts, banks may wish to know the break-up of the amount outstanding in such accounts and the source transaction, transaction reference etc. In order to provide these additional information, there is a provision to define the same as Partitioned Accounts, which stores the additional information from the source module and provides the required information as and when required.

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